The onset of the pandemic was an unforeseen catastrophe for the global tourism industry. So, it should come as little surprise that most of the biggest names in the hotel and cruise ship sectors plummeted hundreds of places in Marriott fell more than 400 spots in the new Global 2000 list, down to No. 868. Hilton dropped more than 700 spots to No. 1541. Carnival fell from the top 500 last year to No. 1,114 this year.
In terms of plotting a course to recovery, though, investors seem more optimistic about hotel companies than their cruise-ship counterparts. Marriott, Hilton and MGM Resorts have all seen their share prices ascend to decade-highs during recent weeks. Shares of Carnival and Royal Caribbean, meanwhile, are both still trading at a discount of at least 35% compared to their highs in January 2020.
“We end an eventful 2020 on a high note,” Evolution CEO Martin Carlesund said when the company released its year-end financial update, striking a very different note than Linnartz of Marriott. “I am particularly pleased that we continue to see positive momentum in player numbers and engagement levels.”
👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻